Gambling or predicting?

Polymarket knew before anyone else that Donald Trump was going to win the elections. On October 5th, Trump was already leading in the “bets” that were done on Polymarket. And he never gave away his lead anymore.

So, what is Polymarket? A gambling site, a prediction site? A polling station? Actually a bit of it all mixed together. You can put money on the outcome of a future event, and get more money back if the event goes through. This goes through a virtual share buying system.
And in October 2,3 billion US Dollars worth of shares on future events were bought, by 200000 people! That seems like a lot, but after the advertising they got with their correct “prediction” on the outcome of the election, Polymarket is completely launched now. And they will surely attract more money and people to the platform in the future.

Huge crowds vs experts

Why did the prediction of Polymarket come out, and is it an interesting indicator for future events? According to CEO, Shayne Coplan, it is! Because the law of the big numbers. A huge crowd is always, or at least almost always smarter than a few experts. And that is exactly what happened with the election.

Watch Polymarket, it is going places, and will be a leading indicator for loads of events in the future!

Sincerely,

Pele23

Posted Using InLeo Alpha